Tickers: XOTC:NXXGF, XTSX:NXS, FRAA:N6E
-Selected sample from sheared intrusive returns 23.9 g/t Au
-Primary quartz vein strike length identified over 1000 metres
-RAB Drilling identifies secondary mineralized trend over 500 metres in length
Vancouver, Canada / TheNewswire / January 11, 2017 - Nexus Gold Corp. ("Nexus" or the "Company") (TSX-V: NXS, OTC: NXXGF, FSE: N6E) is pleased to announce it has received geochemical results from Actlabs Burkina Faso SARL, an ISO 9001:2008 certified independent lab, from its initial exploration program at the Niangouela Gold Concession located 60 kilometres north of Ouagadougou, Burkina Faso, West Africa.
The highlights of the program include sample NG005 taken from the primary quartz vein at 46 metres below surface which returned a value of 2,950 g/t gold. In addition, sample NG006 was collected from the artisanal dumps of the sheared intrusive which returned a value of 23.9 g/t gold. These results indicate the presence of high-grade gold occurring within the primary quartz vein and the sheared intrusive envelope. These samples were selected and may not be representative of the mineralization hosted on the concession.
Results from the 802-metre RAB drilling program included an intersection from hole 19 proximal to the primary quartz vein which returned 1.05 g/t gold over 12 metres. Conducted in a broad grid pattern and designed to test the orientation and strike length of the primary quartz vein, the RAB program also set out to identify any potential off shoots or splays which may be associated with this primary structure. To this effect, the program successfully identified a secondary anomalous gold trend striking to the south west at an oblique orientation to the main east-west striking quartz vein. This 500-metre feature was identified by mineralized intersections occurring in holes 4, 13 and 15, which returned anomalous gold values over three metres respectively. All holes in the program were drilled to a depth range of 18 to 46 metres testing the saprolitic rock (soft rock) which sits at the top of the stratigraphy. Readers are cautioned that the above reported widths are drill intersections and not true widths.
The overall RAB drilling results indicate the gold bearing nature of the primary quartz vein. This vein has now been identified in trenches, artisanal workings and RAB drilling, extending over 1km (1000m) in length. It remains open in all directions.
"We are extremely pleased with the first round of exploration work at Niangouela," said President and CEO, Peter Berdusco. "We were able to verify the presence of high-grade gold within the primary quartz vein and the sheared intrusive. The RAB program accomplished the goal of establishing the initial size and scope of the quartz vein. We were able to determine not only an extended strike length, but also identify a secondary mineralized trend. This information creates a compelling road map for us that will guide the next round of drilling, allowing us to begin to test some of the newly identified priority target zones."
"Given the initial width and strike length of the primary quartz vein, coupled with the very high-grade gold results from both the vein and the sheared intrusive that hosts it, this presents a very exciting exploration target," said Senior Geologist, Warren Robb. "Our next step is to verify gold mineralization at depth and along strike."
The Company is currently planning a comprehensive diamond drill program to test the primary quartz vein at depth and along strike.
The Company employs a QA/QC program of inserting standards, blanks and duplicates into the sample stream as a supplement to the internal checks employed by Actlabs.
About the Niangouela Gold Concession
The 178-sq km Niangouela Gold Concession is located on the Boromo Greenstone Belt, same as the Company's Bouboulou Gold Concession, and is proximal to the Kalsaka deposit and the Sabce shear zone. It is road accessible and has one major orpaillage (artisanal workings).
Historical exploration at Niangouela consists of 556 pits and 11 trenches, with numerous rock and soil samples. Previous programs have identified a zone which runs ENE and WSW occurring in the south central part of the concession. This zone has returned gold in soil samples up to 34 g/t Au, rock samples have returned values up to 18 g/t Au, and trenching has returned values of 4.85 g/t Au over 10 meters. Historical assays of 5.93 g/t Au, 4.83 g/t Au, and 4.12 g/t Au over sample lengths of two metres respectively have been returned from trenching over the vein. A qualified person has not taken steps to verify this data.
About Burkina Faso
Burkina Faso is a landlocked nation, located in West Africa. It covers an area of roughly 274,000 square kilometres and has an estimated population of more than 16 million people. The country has a stable political setting with a pro-mining and foreign investment stance. Burkina Faso is the fastest growing gold producer in Africa, and was the 4th largest gold producer in Africa in 2012. Eight new mines have been commissioned there over the past six years. The country has excellent geological potential. The Greenstone Belts that host all of the major deposits in Ghana and Cote d'Ivoire continue northward into Burkina Faso. Burkina Faso has undergone less than 15 years of modern mineral exploration, remaining under explored in comparison to neighbouring Ghana and Mali; both of which host world class gold mines in the same belts of Birimian rocks.
About the Company
Nexus Gold Corp. is a Vancouver-based gold exploration and development company operating in some of the world's premier mining districts. The Company is currently concentrating its efforts on two gold projects located in Burkina Faso, West Africa. The Bouboulou gold concession is a 38-sq km advanced exploration target where previous drilling has confirmed multiple zones of gold mineralization, and the Niangouela gold concession, a 178-sq km project featuring numerous historical gold occurrences. For more information on these projects, please visit the Company website at www.nexusgoldcorp.com.
Warren Robb P.Geo., Senior Geologist is the designated Qualified Person as defined by National Instrument 43-101 and is responsible for the technical information contained in this release.
On behalf of the Board of Directors of
NEXUS GOLD CORP.
President and Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.
Copyright (c) 2017 TheNewswire - All rights reserved.